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Trannies Tumble As Dow Hits New-er-er All-Time High
Low volume, check. VWAP-reversion-algo, check. Equities higher, check. Dow Theory confirmation that was so convincing when Dow Transports were rising? Umm, no. Trannies lost 0.6% today, underperforming the Industrials by 50bps in March now. Breadth was not confirming the gains either. Financials were the best performers - remember we warned yesterday what happened ahead of last year's CCAR. Treasuries had a poor day with yields popping 5bps but 10Y holding below 2.00% into the close. Silver and Oil recoupled on the week now both +1% as EUR strength was enough to offset JPY weakness and pull the USD lower and supportive of risk. VIX remains dislocated from stocks but fell 0.5 vols today ending the day just above 13%.
It's been an odd week...
The Dow Transports don't seem too happy...
and neither does market breadth...
Treasuries have had quite a week but most of it has been catch up to equity's lead last week...
and FX markets were extremely active...
as now Treasuries and stocks are back beyond Italian Election levels...
Charts: Bloomberg
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Where do all these transvestites that we keep hearing about in the market come from?
And why are they so clumsy?
They are tripping in their high heeled pumps while running over to Wall Street to celibrate and party with the happy banksters I think...
Yeah, they wander over to Wall St. from Greenwich Village.
Lemme guess, no restocking = no truck demand = no shipping costs = BULLISH!
Amirite?
BDI still clunking along at 834.0 today.
I seriously doubt this has anything to do with actually tranporting stuff. The DOW transports are part of the algos buyimg logic and their price has more do do with how much Kevin is buying than with how the economy is doing. This BS doesn't end well. You have to wonder if they are actually trying to make everything brittle so the crash that's coming will go down in the record books. It will.
Are these midgets?
How long can this go on? Forever? Eventually the market will be the equivalent of watching a couple of rich fucks play squash. Nobody will care except the select few who are involved.
Fuck you Bernanke.
and vixy for the first time since the 09 low didn't confirm the break out move higher in stocks while volume has been surging....
http://fiatflaws.blogspot.com/
Normally this would mean that the markets are about to crater but since ZH released this article, shorts have piled on which will result in another 10% short squeeze. Don't shoot the messenger
Trannies? I love me some trannies!
- Krugman, while sucking Bernanke's cock
"The Crowd is the Untruth"
- S. Kierkegaard
Buy The Fucking Record
Almost 10 S&P points daily....what a farce.
And almost all the work is done by people shorting....then getting scared and covering. Makes the PPT work simple - all they have to do is press a button now and then.
All the trucks could be dead on the side of the road and they would still claim we are getting ready to boom.
US Bank leverage 13 times per stress test. GS & JPM a bit higher. Claiming they are strongest in the world on CNBC. May be true, but that makes the numbers even scarier.
2020 dow at 25,000. ZH keeps on a daily end of the world chart
Ever seen a Nikkei chart from 1990?
Jeez ZH. This is really getting tedious. SPX is now nearly 300 pts higher than lows of 2012. All the groaning and complaining. Clearly the right trade was to be long. Now if we get a little pull back I expect it will be the time for a bit of self-congratulation.
This time is different.
Stop feeding the beast, who is John Galt?
Perhaps you're confusing a healthy skepticism and a learned incredulity with a tactical short recommendation (?). To avoid all conflicts of interest, and given their position of influence, all personal assets of the Tylers are held in a blind trust, managed jointly by Marc Faber and Eeyore of Winnie the Pooh fame.
ZH should be renamed to DG, Drones and Gold
What's this . . guns usurped by Drones?
ALL UP ALL THE TIME!
And here I thought this article was going to be about Obama and Reggie Love on the last Presidential "boys only" golf ahem "outing".......er vacation um er uh